CCIIWLOW SIGNALFINANCIAL10-Q

CCIIW updated its quarterly reporting period from Q2 to Q3 2025, showing modest deterioration in operating losses and declining cash position as the SPAC continues seeking a business combination target.

The filing represents routine quarterly progression for this SPAC, with the company still in its target identification phase having commenced no operations. The underwriter over-allotment option appears to have been resolved as of July 2025, providing clarity on the final share structure.

Comparing 2025-11-13 vs 2025-08-06View on EDGAR →
FINANCIAL ANALYSIS

Operating losses increased modestly to $400K from $306K in the prior period, while net income declined to $1.9M from $2.3M. Cash and current assets both decreased by approximately 17%, with cash falling to $1.5M and current liabilities rising to $152K. The overall financial picture reflects typical SPAC cash burn during the target search phase, with adequate liquidity remaining at $1.8M in working capital.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
-30.9%
-$306K→-$400K

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Current Liabilities
Balance Sheet
+29.3%
$118K→$152K

Current liabilities rose 29.3% — increased short-term obligations, watch current ratio.

Net Income
P&L
-18.2%
$2.3M→$1.9M

Net income declined 18.2% — review whether driven by operations, interest costs, or non-recurring items.

Current Assets
Balance Sheet
-17%
$2.0M→$1.7M

Current assets declined 17% — monitor working capital adequacy and short-term liquidity.

Cash & Equivalents
Balance Sheet
-16.8%
$1.8M→$1.5M

Cash decreased 16.8% — monitor burn rate and upcoming capital needs.

LANGUAGE CHANGES
NEW — 2025-11-13
PRIOR — 2025-08-06
ADDED
(2) At December 31, 2024, included an aggregate of up to 1,100,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters over-allotment option was exercised.
(2) Excluded an aggregate of up to 1,100,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters over-allotment option was exercised.
(2) Included an aggregate of up to 1,100,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters over-allotment option was exercised until July 2, 2025.
As of September 30, 2025, the Company had not commenced any operations.
All activity for the period from December 4, 2024 (inception) through September 30, 2025 relates to the Company s formation, the initial public offering (the Initial Public Offering ), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
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REMOVED
(2) Includes an aggregate of up to 1,100,000 Class B ordinary shares that are subject to forfeiture depending on the extent to which the underwriters over-allotment option is exercised.
II CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2025 2025 General and administrative costs $ 34,148 $ 39,568 Loss from operations ( 34,148 ) ( 39,568 ) Net loss $ ( 34,148 ) $ ( 39,568 ) Basic and diluted weighted average Class B ordinary shares outstanding (1)(2) 7,573,333 7,573,333 Basic and diluted net loss per Class B ordinary share $ ( 0.00 ) $ ( 0.01 ) (1) On March 25, 2025, the Company cancelled the one Founder Share and issued 8,655,000 Founder Shares to the Sponsor.
(2) Excludes an aggregate of up to 1,100,000 Class B ordinary shares that are subject to forfeiture depending on the extent to which the underwriters over-allotment option is exercised.
(2) Includes an aggregate of up to 1,100,000 Class B ordinary shares that are subject to forfeiture depending on the extent to which the underwriters over-allotment option is exercised.
As of June 30, 2025, the Company had not commenced any operations.
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